Retail vacancy rates set to climb in Kamloops

The closure of Target will result in a jump of retail vacancy to more than 9.6 per cent.

(JENNIFER STAHN / iNFOnews.ca)

January 20, 2015 - 10:49 AM

KAMLOOPS - Once Target shuts down, the retail vacancy rate in the Sahali, Southgate area will jump to 9.66 per cent from 3.38 per cent two years ago.

Katie Martin with Colliers Kamloops points out several larger shops have closed up in the past two years also, including the Dollar Store by Walmart, Petcetera and XS Cargo.

The owners of spaces where two former restaurants in the Aberdeen area once fed hungry diners — Brass Kettle and Tandoori Grill — began marketing for lease this past year but have yet to find a tenant. East Side Marios also left a large vacancy at Aberdeen mall in 2013, though it has been filled with short-term and seasonal tenants off and on since.

These vacancies will combine for more than 177,000 square feet of empty retail space in the area and there are still several other smaller retail fronts not filled as well.